Business in Brief
- By Unknown
- Mar. 31 2008 00:00
WBD Profit Up 18%
Dairy firm Wimm-Bill-Dann said Friday that fourth-quarter profit advanced 18 percent on higher demand for its dairy products, baby foods and juices.
Net income climbed to $34.4 million from $29.2 million a year earlier, the company said. (Bloomberg)
GDP Growth at 8.2%
Gross domestic product growth accelerated to 8.2 percent year on year in February from 7.4 percent in January, the Economic Development and Trade Ministry said in its monthly economic review Friday.
The economy grew 8.1 percent last year. The ministry expects GDP to rise 7.1 percent in 2008. (Reuters)
Ruukki Invites VTB Exec
Finland's Ruukki Group may gain a board member from VTB Group as it pursues plans to build a pulp mill in the country.
Representatives of VTB, Russia's second-biggest lender, and Nassau, Bahamas-based RCS Trading Corporation would join the board as part of a shareholder proposal to increase the number of members to seven, Ruukki said Friday. (Bloomberg)
Timan May Resume Trading
Shares in London-listed Timan Oil and Gas could resume trading possibly as early as next week, a source close to the company said Friday.
Timan temporarily suspended trading of its shares Thursday on London's AIM, a junior market for smaller and medium-sized companies, while it considered financing matters, the company had said. (Reuters)
SUEK to Borrow $800M
Siberian Coal and Energy Co., or SUEK, is borrowing $800 million to finance acquisitions and repay existing debt.
The company will pay interest of as much as 1.7 percent on a five-year portion of the loan, banks arranging the deal said Thursday. (Bloomberg)
Rogachyov on New X5 Issue
ST. PETERSBURG -- Minority shareholders in X5 Retail Group will not block its planned new $1 billion share issue even if it dilutes their stakes, shareholder Andrei Rogachyov said Friday.
"We have no hostile intention and will not block an additional issue if everything is done in accordance with the law," said Rogachyov, who with partners holds 21 percent of X5. (Reuters)
For the Record
Consumer prices may have risen between 1 percent and 1.2 percent in March from the month before, Interfax reported Friday. (Bloomberg)
Slavneft said Thursday that its net profit based on Russian accounting standards plunged last year to 1.17 billion rubles for 2007, compared with 20.39 billion rubles in 2006. (Bloomberg)
Russia will halt warplane deliveries to Algeria over payment delays, Kommersant reported Friday. (Bloomberg)
Logistics and shipping firm RTL Group said Friday that it would open a $120 million terminal on the Gulf of Finland for car imports. (Bloomberg)
Rupert Murdoch's News Corp. said Friday that it planned to fight for control of Georgian television station Imedi. (Bloomberg)
En+, Basic Element's energy and aluminum division, is forming a coal division, En+Coal, BasEl said Friday. (MT)